Coca Cola European Partners Beats

Coca Cola European Partners (CCE) reported 2nd Quarter June 2017 earnings of $0.74 per share on revenue of $3.4 billion. The consensus earnings estimate was $0.64 per share on revenue of $3.3 billion. The Earnings Whisper number was $0.66 per share. Revenue grew 37.1% on a year-over-year basis.

The company said it expects 2017 earnings of $2.51 to $2.55 per share on revenue of approximately $13.25 billion. The company's previous guidance was earnings to be up in the high single-digit range, or approximately $2.25 per share, and the current consensus earnings estimate is $2.35 per share on revenue of $12.33 billion for the year ending December 31, 2017.

Coca-Cola European Partners Reports Interim Results for the Six Months Ended 30 June 2017

•
First-half diluted earnings per share were EUR0.91 on a reported
basis or EUR0.98 on a comparable basis, including a negative currency
translation impact of EUR0.03.

•
First-half reported revenue totalled EUR5.4 billion, up 3.0 percent
on a comparable basis, or up 5.0 percent on a comparable and
fx-neutral basis. Volume grew 3.0 percent on a comparable basis.

•
First-half reported operating profit was EUR635 million; comparable
operating profit was EUR688 million, up 14.0 percent on a comparable
basis, or up 17.0 percent on a comparable and fx-neutral basis.

•
Second-quarter diluted earnings per share were EUR0.61 on a reported
basis or EUR0.67 on a comparable basis, including a negative currency
translation impact of EUR0.02.

•
CCEP increases full-year guidance for 2017 including comparable and
fx-neutral diluted earnings per share growth in a 10 percent to 12
percent range when compared to 2016 comparable results; at recent
rates, currency translation would reduce diluted earnings per share by
approximately 2 percent.

•
CCEP remains on track to achieve pre-tax savings of EUR315 million to
EUR340 million through synergies by mid-2019.

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CCEP declares quarterly dividend of EUR0.21 per share.

"We delivered a strong second quarter as we continue to make solid
progress in building our new company and realising our planned
synergies," said Damian Gammell, Chief Executive Officer. "These results
reflect the successful execution of our sales and marketing plans, as
well as favourable weather throughout the quarter.

First-half 2017 diluted earnings per share were EUR0.91 on a reported
basis, or EUR0.98 on a comparable basis. Currency translation had a
negative impact of EUR0.03 on first-half 2017 comparable diluted earnings
per share. First-half 2017 reported operating profit totalled EUR635
million, up 102.0 percent driven by the inclusion of Germany, Iberia,
and Iceland. Comparable operating profit was EUR688 million, up 14.0
percent on a comparable basis, or up 17.0 percent on a comparable and
fx-neutral basis.

Second-quarter 2017 diluted earnings per share were EUR0.61 on a reported
basis, or EUR0.67 on a comparable basis. Currency translation had a
negative impact of EUR0.02 on second-quarter comparable diluted earnings
per share. Second-quarter reported operating profit totalled EUR416
million, up 99.0 percent versus prior year driven by the inclusion of
Germany, Iberia, and Iceland. Comparable operating profit was EUR460
million, up 15.5 percent on a comparable basis, or up 18.5 percent on a
comparable and fx-neutral basis.

Key operating factors in the second quarter include the benefits from
our sales and marketing initiatives, country mix, favourable weather, as
well as favourable prior year comparables. Additional factors include a
modest gross margin increase as revenue per unit case offset increases
in costs of sales per unit case, ongoing operating expense management,
and post-merger synergy benefits.

Revenue

First-half 2017 reported revenue totalled EUR5.4 billion, up 53.5 percent,
driven by the inclusion of Germany, Iberia, and Iceland versus prior
year. Comparable revenue was up 3.0 percent, or up 5.0 percent on a
comparable and fx-neutral basis.

Second-quarter 2017 reported revenue totalled EUR3.1 billion, up 40.5
percent, driven by the inclusion of Germany, Iberia, and Iceland versus
prior year. Comparable revenue was up 5.5 percent, or up 7.5 percent on
a comparable and fx-neutral basis. Revenue per unit case was up 3.0
percent on a comparable and fx-neutral basis driven by favourable price,
promotion, and package mix. Second-quarter volume increased 4.5 percent
on a comparable basis, reflecting the benefits of marketing and brand
initiatives, solid execution, and favourable weather conditions.

On a territory basis for the second quarter, Iberia revenues were up 8.5
percent, benefiting from solid execution, with strong growth of
Coca-Cola Zero Sugar and sparkling flavours, combined with favourable
channel and package mix. Revenue in Germany was up 7.0 percent, given
strong volume and revenue per unit case growth driven by the impact of
pricing and promotional plans and favourable package mix. Great Britain
had strong revenue growth on an fx-neutral basis with gains in both
revenue per unit case and volume, driven by solid growth in Coca-Cola
trademark, Fanta, and energy. On a reported basis, Great Britain
revenues were down 0.5 percent, driven by a decline of the British pound
versus the Euro of approximately 9.0 percent. Revenue in France was up
3.5 percent, with strong volume growth and slightly negative revenue per
unit case growth, driven in part by solid results in the cold channel,
including the impact from new post mix business. Revenue in the Northern
European territories (Belgium, Luxembourg, the Netherlands, Norway,
Sweden, and Iceland) was up 9.0 percent, benefiting 3.5 percent from the
inclusion of Iceland and 5.5 percent growth in previously existing
territories. Growth in Northern Europe was led by Belgium, Luxembourg,
and the Netherlands, offset by a decline in Norway.

On a brand basis for the second quarter, sparkling brands were up 4.0
percent. Coca-Cola trademark brands increased 3.5 percent, led by
double-digit Coca-Cola Zero Sugar growth and modest growth in Coca-Cola
Classic. Sparkling flavours and energy grew 7.0 percent with solid
growth from Fanta and energy brands. Still brands grew 6.5 percent.
Water brands were up 5.0 percent, led by growth in Aquabona and
Chaudfontaine, and juices, isotonics and other were up 7.5 percent with
growth from Capri-Sun, Aquarius, and teas, notably in Spain.

Cost of Sales

First-half 2017 reported cost of sales were EUR3.3 billion, up 49.0
percent, driven by the inclusion of Germany, Iberia, and Iceland versus
prior year. Comparable cost of sales were EUR3.3 billion, up 3.5 percent
on a comparable basis, or up 5.0 percent on a comparable and fx-neutral
basis.

Second-quarter 2017 reported cost of sales were EUR1.9 billion, up 36.0
percent, driven by the inclusion of Germany, Iberia, and Iceland versus
prior year. Comparable cost of sales were EUR1.8 billion, up 5.0 percent
on a comparable basis, or up 7.0 percent on a comparable and fx-neutral
basis. Second-quarter cost of sales per unit case increased 2.5 percent
on a comparable and fx-neutral basis.

Operating Expenses

First-half 2017 reported operating expenses were EUR1.5 billion, up 47.5
percent, driven by the inclusion of Germany, Iberia, and Iceland versus
prior year. Comparable operating expenses were EUR1.4 billion, down 2.0
percent on a comparable basis, or down 1.0 percent on a comparable and
fx-neutral basis.

Second-quarter 2017 reported operating expenses were EUR785 million, up
31.0 percent, driven by the inclusion of Germany, Iberia, and Iceland
versus prior year. Comparable operating expenses were EUR749 million, up
2.0 percent on a comparable basis, or up 3.5 percent on a comparable and
fx-neutral basis. This includes the impact of volume growth, partially
offset by synergy benefits, and a continued focus on managing operating
expenses.

Outlook

For 2017, CCEP now expects low single-digit revenue growth, operating
profit growth at the top end of the previously stated high single-digit
range, and diluted earnings per share to be up 10 percent to 12 percent.
Excluding synergies, CCEP expects operating profit growth to be broadly
in-line with revenue growth. Each of these growth figures is on a
comparable and fx-neutral basis when compared to 2016 comparable
results. At recent rates, currency translation would reduce 2017
full-year diluted earnings per share by approximately 2 percent.

CCEP expects 2017 free cash flow* at the high end of the previous range
of EUR700 million to EUR800 million, including the expected benefit from
improved working capital offset by the impact of restructuring and
integration costs. Capital expenditures are expected to be approximately
EUR600 million, including approximately EUR100 million of capital
expenditures related to synergies. Weighted-average cost of debt is
expected to be approximately 2.0 percent. The comparable effective tax
rate for 2017 is expected to be approximately 25.0 percent. CCEP does
not expect to repurchase shares in 2017.

CCEP remains on track to achieve pre-tax run-rate savings of EUR315
million to EUR340 million through synergies by mid-2019. Further, CCEP
expects to exit 2017 with run-rate savings of approximately one-half of
the target. Restructuring cash costs to achieve these synergies are
expected to be approximately 2 1/4 times expected savings and includes
cash costs associated with pre-transaction close accruals. Given these
factors, currency exchange rates, and our outlook for 2017, CCEP expects
year-end net debt to adjusted EBITDA* for 2017 to be under 3 times.

* Refer to Note Regarding the Presentation of Alternative
Performance Measures for further details about these measures.

Dividends

The CCEP Board of Directors declared a regular quarterly dividend of
EUR0.21 per share. The dividend is payable 11 September 2017 to those
shareholders of record on 28 August 2017. The Company is pursuing
arrangements to pay the dividend in euros to shares held within
Euroclear Netherlands. Other publicly held shares will be converted into
an equivalent US dollar amount using exchange rates issued by WM/Reuters
taken at 16:00 BST on 10 August 2017. This translated amount will be
posted on our website, www.ccep.com,
under the Investor/Shareowner Information section.

Conference Call

CCEP will host a conference call with investors and analysts today at
15:00 BST, 16:00 CEST and 10:00 a.m. EDT. The call can be accessed
through the Companys website at www.ccep.com.

Financial Details

Financial details can be found in our first-half 2017 filing, available
within the next 24 hours at www.morningstar.co.uk/uk/NSM
(located under effective date 30 June 2017) and available immediately on
our website, www.ccep.com,
under the Investors tab.

About CCEP

Coca-Cola European Partners plc (CCEP) is a leading consumer goods
company in Western Europe, selling, making and distributing an extensive
range of nonalcoholic ready-to-drink beverages and is the worlds
largest independent Coca-Cola bottler based on revenue. Coca-Cola
European Partners serves a consumer population of over 300 million
across Western Europe, including Andorra, Belgium, continental France,
Germany, Great Britain, Iceland, Luxembourg, Monaco, the Netherlands,
Norway, Portugal, Spain and Sweden. The Company is listed on Euronext
Amsterdam, the New York Stock Exchange, Euronext London and on the
Spanish stock exchanges, and trades under the symbol CCE. For more
information about CCEP, please visit our website at www.ccep.com
and follow CCEP on Twitter at @CocaColaEP.

Forward-Looking Statements

This document may contain statements, estimates or projections that
constitute "forward-looking statements". Generally, the words "believe,"
"expect," "intend," "estimate," "anticipate," "project," "plan," "seek,"
"may," "could," "would," "should," "might," "will," "forecast,"
"outlook," "guidance," "possible," "potential," "predict" and similar
expressions identify forward-looking statements, which generally are not
historical in nature. Forward-looking statements are subject to certain
risks and uncertainties that could cause actual results to differ
materially from Coca-Cola European Partners plcs ("CCEP") historical
experience and its present expectations or projections. These risks
include, but are not limited to, obesity concerns; water scarcity and
poor quality; evolving consumer preferences; increased competition and
capabilities in the marketplace; product safety and quality concerns;
perceived negative health consequences of certain ingredients, such as
non-nutritive sweeteners and biotechnology-derived substances, and of
other substances present in their beverage products or packaging
materials; increased demand for food products and decreased agricultural
productivity; changes in the retail landscape or the loss of key retail
or foodservice customers; fluctuations in foreign currency exchange
rates; interest rate increases; an inability to maintain good
relationships with its partners; a deterioration in its partners
financial condition; increases in income tax rates, changes in income
tax laws or unfavourable resolution of tax matters; increased or new
indirect taxes in its tax jurisdictions; increased cost, disruption of
supply or shortage of energy or fuels; increased cost, disruption of
supply or shortage of ingredients, other raw materials or packaging
materials; changes in laws and regulations relating to beverage
containers and packaging; significant additional labeling or warning
requirements or limitations on the availability of its respective
products; an inability to protect its respective information systems
against service interruption, misappropriation of data or breaches of
security; unfavourable general economic or political conditions in the
United States, Europe or elsewhere; litigation or legal proceedings;
adverse weather conditions; climate change; damage to its respective
brand images and corporate reputation from negative publicity, even if
unwarranted, related to product safety or quality, human and workplace
rights, obesity or other issues; changes in, or failure to comply with,
the laws and regulations applicable to its respective products or
business operations; changes in accounting standards; an inability to
achieve its respective overall long-term growth objectives;
deterioration of global credit market conditions; default by or failure
of one or more of its respective counterparty financial institutions; an
inability to timely implement their previously announced actions to
reinvigorate growth, or to realise the economic benefits it anticipates
from these actions; failure to realise a significant portion of the
anticipated benefits of its respective strategic relationships,
including (without limitation) The Coca-Cola Companys relationship with
Monster Beverage Corporation; an inability to renew collective
bargaining agreements on satisfactory terms, or it or its respective
partners experience strikes, work stoppages or labour unrest; future
impairment charges; an inability to successfully manage the possible
negative consequences of its respective productivity initiatives; global
or regional catastrophic events; and other risks discussed in the 2016
Annual Report on Form 20-F, published on 12 April 2017. You should not
place undue reliance on forward-looking statements, which speak only as
of the date they are made. CCEP does not undertake any obligation to
publicly update or revise any forward-looking statements, whether as a
result of new information, future events, or otherwise. CCEP assumes no
responsibility for the accuracy and completeness of any forward-looking
statements. Any or all of the forward-looking statements contained in
this filing and in any other of its public statements may prove to be
incorrect.